Brazil, the largest of all 33 Latin American countries, is a popular destination for immigrants, housing over 1.7 million immigrants as of 2022.  For migrant workers who’ve made Brazil their home, managing finances can sometimes be a hassle.
Fret not, there’s good news. Opening US and UK bank accounts can make your financial life much smoother.

This guide will show you how to use Grey to set up US and UK virtual bank accounts, helping you to send, receive, and manage money effortlessly as a migrant worker in Brazil.

Why should you open a US or UK bank account as a migrant worker?

Having US and UK bank accounts comes with several advantages:

• Receive payments globally: Get paid in USD or GBP, whether you're working remotely or freelancing.
• Better exchange rates: Avoid the hidden fees and poor exchange rates associated with traditional money transfer services.
• Easier transactions: Make seamless payments for international services, subscriptions, or goods.

With Grey, you can enjoy all these benefits without visiting a physical bank branch.

Also read: How to manage multiple currencies as an expatriate in Mexico using Grey

Step-by-step guide to opening US and UK bank accounts w Grey

The process is pretty straightforward. Here’s how you can get started:

1. Sign up for Grey

Creating an account with Grey is simple, requiring only a few personal details. Here’s what you need to do.

• Visit Grey.co: On your browser, enter Grey.co and click on “Get started – it’s free.”

• Choose your country: Select your current country of residence. This helps Grey tailor the setup to your location.

• Enter your details: You’ll be prompted to provide your full name, email address, and phone number, then create a secure password.

• Verify your email: Grey will send a one-time password (OTP) to your email address. Simply enter the code on the site to complete this step.

Once you’re set-up, you’re ready for identity verification — a step required for secure access to financial services.

2. Verify your identity for secure access

Here’s what you’ll need to provide:

• Government-issued ID: A valid passport or national ID card is required. Make sure it’s clear and up-to-date.
• Proof of address: A recent utility bill or bank statement will verify your location. Grey uses this document to confirm your residency.
• Submit your documents for review: Once uploaded, Grey will review your documents, a process that typically takes a few business days. Clear and accurate documentation speeds up approval.

3. Access your US and UK bank accounts

• Once your identity is verified, log in to your Grey account.
• Navigate to the “Accounts” section and select “Create Account.”
• Choose the currency (USD for a US bank account or GBP for a UK account).
• Your virtual bank account details, including your account number and routing number, will be generated instantly.

Also read: How to manage multiple currencies as an expatriate in Brazil using Grey

How to use your US and UK bank accounts

Now that your accounts are set up, here’s what you can do:

Receive payments

Share your account details with employers, clients, or family abroad to receive payments in USD or GBP directly into your Grey account.

Convert to local currency

Use Grey to convert your USD or GBP to local currencies like Mexican pesos, Colombian pesos, or Brazilian reais, depending on the country you’re in.

Navigate to the “Convert” section in the app, select the currency pair, and confirm the transaction. Funds are instantly transferred to your local wallet.

Withdraw funds

Transfer your funds to a local bank account or mobile money service for easy access to cash.

Benefits of using Grey as a migrant worker in Brazil

• No hidden fees: Transparent pricing ensures you keep more of your money.
• Competitive exchange rates: Maximise your earnings when converting currencies.
• Fast transactions: Receive and transfer money instantly, without delays.
• Global accessibility: Use the Grey app to manage your finances from anywhere, anytime.

Tips for managing finances as a migrant worker

• Budget wisely: Allocate your income across savings, daily expenses, and remittances to your family.
• Track exchange rates: Use Grey’s real-time rates to convert funds at the best times.
• Secure your accounts: Enable two-factor authentication (2FA) for added security.

Simplify banking across borders with Grey

Life as a migrant worker in Brazil doesn’t have to be difficult. With Grey, you can create US and UK bank accounts in minutes, receive payments globally, and manage multiple currencies.

Create your Grey account today or download the app to enjoy inclusive global banking, designed for you to carry your dreams across borders.

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